[ANN][BURST] Burst | Efficient HDD Mining | New 1.2.3 Fork block 92000

[zlatanBorec]

sorry if naive' q, need this to cordinate my trading activity, does anyone know exact nature and schedule of block reward reductions into the future , like a time table ? thanks in advance, what I really would like to have is network capacity projection, but that is next to impossible...

Will give u a chart soonish

http://screencast.com/t/zoTReyvik

0 : 10000
10800: 9500
21600: 9025
32400: 8573.75
43200: 8145.0625
54000: 7737.809375
64800: 7350.91890625
75600: 6983.373
86400: 6634.2043
97200: 6302.49409725

thanks so much... great.. also will allow solid distribution world wide even with lower capacity drives in developing countries.. thought reduction was more aggressive.. it is not ... very very cool, and developing countries are high on electrical costs.. so there you go with decentralization,,, granted China could build a warehouse and stack it with high capacity SCSI's and begin race war in this space as well.. if it happens you all should get chunk of BURST as soon as you can at Tera and sat (on exchanges) as its allowed right now

checking bittrex action again... very interesting trading pattern.. like 12 BTC volume Today.. lots of 250K sold at 200 sat.. and rebought etc

believe "asset" territory is also untapped to a degree as well.. although NXT spined off so many that is hard for people to dissect although it is all very valuable long term

you got basically two coins that are "decentralization" friendly it is BURST and MAGI , both were actually presented together at a conference and it makes sense

bought Magi when BURST was at 300 satoshi and in reverse bought BURST when MAGI was 4908 sat.. both are excellent investments long term in my opinion . they, developers should consider "talking to" Supernet developers and close that bridge as well.. anyways..

> 200K BURST lots are gone, so now you have bots playing arbitrage in minuscule amounts, lucky thee who scooped these lots at 200 sat range.. there is one left but < 1/4 40K at 187 sat

thinking thinking.. need to transfer that BTC amount.. that's around 0.07 BTC which is nothing, gone.. next level is 204 and 207 sat...

Here is a 4 year chart. In about 41 months(3 years 5 months) we will be down to just 852 burst / block...about 306k / day

i think under 3750 burst/blok reward we will se a really good hype!!!
but bfore this, i dont' know if we can retouch 100 sat or less...

[q327K091]

Hi mates,

Can someone please tell me the current rate for BURST per day for 1TB?

Cheers.

Noto so much!
But you can check here for more details

http://burstcoin.eu

Bye bye

200-250 burst

correct.. i have about 12TB... and i do about 2600 burst/day...
this is just an average.. on 10PB newtwork size...
and this parameter it is really unstable...
a day you can mine 5000burst and another you can mine 1500burst

that's pretty good btw.. do it while you can.. BURST is going be very very valuable even 1000 BURST is going to be a lot

[bensam123]

Is there anywhere to see a more in depth block break down then? http://burstcoin.eu/charts/average-block-generation-time

[zlatanBorec]

Hi mates,

Can someone please tell me the current rate for BURST per day for 1TB?

Cheers.

Noto so much!
But you can check here for more details

http://burstcoin.eu

Bye bye

200-250 burst

correct.. i have about 12TB... and i do about 2600 burst/day...
this is just an average.. on 10PB newtwork size...
and this parameter it is really unstable...
a day you can mine 5000burst and another you can mine 1500burst

that's pretty good btw.. do it while you can.. BURST is going be very very valuable even 1000 BURST is going to be a lot

i hope this!!!

but i'm not sure!!!

all of us, need to wait and see!!!

 

[xizmax]

Is there anywhere to see a more in depth block break down then? http://burstcoin.eu/charts/average-block-generation-time

There used to be one at http://burst.cryptoport.io/ but that is uray's block explorer and it seems to be down (at least for me).

The code seems to be on https://github.com/uraymeiviar/burst-block-explorer if anyone is interested.

[crazyearner]

Anyone else getting problems on http://cryptomining.farm/ pool finding to continues to drop connection and error out and uable to mine. Been like this most the day. Anyone else got same problems?

Keep getting the following problems on pool

[bensam123]

*  if parameter    "UseSorting" : false,  uses sorting in decreasing order (first sending bigger deadline)

Curious, why would you want to set this to true? Wouldn't you want it to submit the deadlines in whatever order it finds them for the sake of speed?

Setting it to false also doesn't seem to do anything from what I can see.

Is there anywhere to see a more in depth block break down then? http://burstcoin.eu/charts/average-block-generation-time

There used to be one at http://burst.cryptoport.io/ but that is uray's block explorer and it seems to be down (at least for me).

The code seems to be on https://github.com/uraymeiviar/burst-block-explorer if anyone is interested.

Thanks.

[pinballdude]

I am adding 13TB to my mining capacity sometime this week or next week, awaiting some supplies to make that happen. Lost track of how much i am mining, but it is well over 40TB, probbably not 50TB though, but close. Waiting for windows 10 to be able to run virtualbox host, then i'll probably go buy 20TB more. One of my worries is how much power i can safely drain from just two wall-plugs...

Burst blocks will, while it is still being mined, no matter the starting point in time, be yielding a lot less over the next year than it is at the start of the period, so you really need prices to go up in the short run for it to pay the mining cost, at least until transaction fees start becoming a large part of the payout. It seems like a harddrive right now pays back itself inside 7-8 months, ex power, ex working time, and ex. expenses on the computer the drive is connected to. After 7-8 months you get the drive for free, if you sell the burst for whatever you used to buy the drive with. Looking at things this way, 6 of my 10 4TB drives have now paid for themselves, and are pure profit for me... however i have decided not to sell any burst and await price appreciation.

Good news reg. harddisk robustness when mining.  I have been at it since september, and not one of my drives have gone bad. I have 5 * seagate the cheapest 4TB usb 3.0 drive, and 5 * intenso the cheapest 4TB usb 3.0 drive, and 3 older usb drives (1TB and below) and perhaps 5 or so internal drives at 1Tb to 3TB.  not one of them have gone bad in the half year they've been on 24/7 and mining all the time... so..  seems like burst does not stress the disks to fail fast, not old disks, not new disks... at least not the appprox 20 disk drives i've been mining with.

price wise, i think BURST will only really start to rise when we have mined more of the coins, i'd guess when we're about halfway through, then BURST will start becoming scarce and the coin will at the same time have matured technologically. The combination of tighter supply and growing demand will do a "peak oil" kind of scenario where the price will be pushed up quite a lot. Lower output from mining will mean more coins hitting circulation, and higher demand for a more well known and respected coin, will mean more demand. The fact that burst has held its price with the current pretty large inflation is a very good sign going forward, as we know for sure that the inflation will forever be smaller and smaller.

My bold prediction for 2015 is that we will go up the coinmarketcap rankings and end up just below NXT. This is possible, and in a way, fair. it is somewhat up from current levels, even if you factor in the final amount of burst in existence.

[crazyearner]

I am adding 13TB to my mining capacity sometime this week or next week, awaiting some supplies to make that happen. Lost track of how much i am mining, but it is well over 40TB, probbably not 50TB though, but close. Waiting for windows 10 to be able to run virtualbox host, then i'll probably go buy 20TB more. One of my worries is how much power i can safely drain from just two wall-plugs...

Burst blocks will, while it is still being mined, no matter the starting point in time, be yielding a lot less over the next year than it is at the start of the period, so you really need prices to go up in the short run for it to pay the mining cost, at least until transaction fees start becoming a large part of the payout. It seems like a harddrive right now pays back itself inside 7-8 months, ex power, ex working time, and ex. expenses on the computer the drive is connected to. After 7-8 months you get the drive for free, if you sell the burst for whatever you used to buy the drive with. Looking at things this way, 6 of my 10 4TB drives have now paid for themselves, and are pure profit for me... however i have decided not to sell any burst and away price appreciation.

Good news reg. harddisk robustness when mining.  I have been at it since september, and not one of my drives have gone bad. I have 5 * seagate the cheapest 4TB usb 3.0 drive, and 5 * intenso the cheapest 4TB usb 3.0 drive, and 3 older usb drives (1TB and below) and perhaps 5 or so internal drives at 1Tb to 3TB.  not one of them have gone bad in the half year they've been on 24/7 and mining all the time... so..  seems like burst does not stress the disks to fail fast, not old disks, not new disks... at least not the appprox 20 disk drives i've been mining with.

price wise, i think BURST will only really start to rise when we have mined more of the coins, i'd guess when we're about halfway through, then BURST will start becoming scarce and the coin will at the same time have matured technologically. The combination of tighter supply and growing demand will do a "peak oil" kind of scenario where the price will be pushed up quite a lot. Lower output from mining will mean more coins hitting circulation, and higher demand for a more well known and respected coin, will mean more demand. The fact that burst has held its price with the current pretty large inflation is a very good sign going forward, as we know for sure that the inflation will forever be smaller and smaller.

My bold prediction for 2015 is that we will go up the coinmarketcap rankings and end up just below NXT. This is possible, and in a way, fair. it is somewhat up from current levels, even if you factor in the final amount of burst in existence.

I had 3,000+ watt running off 1 240volt socket and had no problems so you got a fair way to go before using that up with hard drives and if you using sata 3 over powered usb hubs depends on how much wattage each  hdd is using if their external and has own power and connected by usb maybe able to get an extinction that does 8 plugs into one as I have one that has 8 sockets into 1 mains plug with circuit brake on each connector if it over volts or shorts it cuts that socket out.

Have 2 of these


And 1 of these


Looks like going to be grabbing some 5TB units units as price just come down on them dramatic so going to see if can get a bulk deal on them and then see what they retail of 2nd hand cos am going to end up having like 100TB if no more at this rate if I go all at Burst and that going to be an insane amount of space to have left over when mining gets too hard.

[bensam123]

Yeah, I don't think you need to worry about your electrical unless you have a old place. Mining with HDs isn't like mining with GPUs. Unless you have a old house with old wiring, you probably can pull close to 1600w from the outlet. Most places are rated for 15amp circuits (1800w), sometimes 20amps. Watts are ampsXvolts. HDs are like 6w a piece.

You'd need a LOT of HDs to get close to that and of course a PSU able to reach that. I set up a 220v service for myself back when I did GPU mining and needed real power, but since then it seems sorta like a waste.


It is a shame. Since this is the only capacity oriented coin, if it goes belly up or the price doesn't increase, that's a lot of storage space that basically no one wants. If price of the coin doesn't naturally increase, the triage from the block rewards decreasing willy slowly kill off mining (and possibly the coin). Although the block rewards decrease really slowly with Burst, I've seen it kill off other coins before.

The expectation is the market value of the coin will increase as supply decreases (artificially decreasing the supply will increase the value), but that doesn't always determine the value. The market may just say fuck it, especially if social factors cave, such as the coin is no longer profitable to mine and therefore, no longer generates buzz or attention. With PoS coins, the developers greatly underestimated the influence the miners themselves had on how popular the coin was. Even though the 'fee' of mining was gone, many coins quickly fall by the wayside because no one talks about them anymore, and therefore no one uses them anymore. Mining perpetuate coins as much as it 'costs' the coin market.

In my personal opinion, you could essentially say mining makes and breaks coins. As soon as the mining dries up for Burst, for instance (although that's a ways off), Burst better have a very well established foothold in the Cryptocurrency world or it will dry up as well.

We can assume people who bought drives for Burst will mine till the end of time, since there is no other Crypto coin, network difficulty will only increase. So if price doesn't increase, we could see the effects of this start to happen in the next few months.

I honestly never understood why coin developers put a decreasing or changing block reward on a coin, I think this stems from developers really having no understanding of economics (sorry devs). It's supposed to 'reward' early adopters (and in some cases help finish a coin mine), but all it does is kills interest when it finally gains traction, especially with a coin that already has more going for it. Block reward should always be static on a coin, with the exception of fees. This would all be determined by the market instead of the developer trying to artificially influence the market through changing the supply.

Instead you create a artificial 'bubble' of profitability, which fades over time, especially if the coin doesn't gain a foothold or increase in value.

Really you should have a static block reward + fees, which never changes. The value of mining is determined by market worth. Coin mining would just cut off at whatever cap you want it to eventually reach. To that end, I don't think I've ever seen a coin gain 'value' by being fully mined. Usually at the end of the mine, there is a big 'boost' which is usually just a pump, and then it's all dumped and the coin fades to nothingness as they don't have anything going for them besides mining, which was driving all the interest.

[koko2530]

Anyone else getting problems on http://cryptomining.farm/ pool finding to continues to drop connection and error out and uable to mine. Been like this most the day. Anyone else got same problems?

Keep getting the following problems on pool

please please open proxy mode on blago miner
thanks

[lagur]

Anyone experiencing crash randomly on get mining info failed message?

[seasonw]

Anyone experiencing crash randomly on get mining info failed message?

sometimes... do you have it often?

[Blago]

Anyone else getting problems on http://cryptomining.farm/ pool finding to continues to drop connection and error out and uable to mine. Been like this most the day. Anyone else got same problems?

Keep getting the following problems on pool

please please open proxy mode on blago miner
thanks

People! You make your own problems at the pool.
Limit your outgoing deadlines.
For example, cryptomining.farm, Total Miners= 972 .
If everyone sends 10 deadlines, the server creates a queue of 9720 messages that the server should check and confirm ...
A very large load on the server and bandwidth.
If you set your average TargetDeadline to send 2-3 deadline for each block, the server will works 3-5 times better (972*3).

[q327K091]

USB drives disconnect... on an occasion anyways I see movement towards 200 sat territory but big blocks of > 200K are still 220 sat. don't want to overpay if I can  

200K BURST is laying there at 220 sat for all day almost , someone is very patient as am I  hunting down 1 million BURST that is my target at 200 and if I can and will wait at 180 sat

220 & 224 sat will yield 350K , that is with current pace 100 Tera drives working non stop for > 2 months non stop  

who the heck is selling at these price levels.. like really.. I am pretty amazed actually , only access to ultra cheap or free disk drives at high capacity maybe
 
seller moved closer to my threshold 218 for 200K now... lets see and moved back up to 220 but this is no profit.. it is pretty funny actually

definitely some access to free drives so then 200$ in his pocket.. but still this is no real  profit.. anyways lets see what he/she does...  as I am sure he/she reads this thread

this could be a bot actually even at 200K although that is large sum for BURST trade.. pattern is oscillating up and down 220 then 218 and again 220 not a human hand is doing this.. a bot for sure

this ain't going anywhere tonight.. bot is probing 218 and 220 sat level for 200K block.. not this time.. speak soon

[crowetic]

USB drives disconnect... on an occasion anyways I see movement towards 200 sat territory but big blocks of > 200K are still 220 sat. don't want to overpay if I can  

200K BURST is laying there at 220 sat for all day almost , someone is very patient as am I  hunting down 1 million BURST that is my target at 200 and if I can and will wait at 180 sat

220 & 224 sat will yield 350K , that is with current pace 100 Tera drives working non stop for > 2 months non stop  

who the heck is selling at these price levels.. like really.. I am pretty amazed actually , only access to ultra cheap or free disk drives at high capacity maybe
 
seller moved closer to my threshold 218 for 200K now... lets see and moved back up to 220 but this is no profit.. it is pretty funny actually

definitely some access to free drives so then 200$ in his pocket.. but still this is no real  profit.. anyways lets see what he/she does...  as I am sure he/she reads this thread

this could be a bot actually even at 200K although that is large sum for BURST trade.. pattern is oscillating up and down 220 then 218 and again 220 not a human hand is doing this.. a bot for sure

this ain't going anywhere tonight.. bot is probing 218 and 220 sat level for 200K block.. not this time.. speak soon

love the analysis.

[callmejack]

Anyone else getting problems on http://cryptomining.farm/ pool finding to continues to drop connection and error out and uable to mine. Been like this most the day. Anyone else got same problems?

Keep getting the following problems on pool

please please open proxy mode on blago miner
thanks

People! You make your own problems at the pool.
Limit your outgoing deadlines.
For example, cryptomining.farm, Total Miners= 972 .
If everyone sends 10 deadlines, the server creates a queue of 9720 messages that the server should check and confirm ...
A very large load on the server and bandwidth.
If you set your average TargetDeadline to send 2-3 deadline for each block, the server will works 3-5 times better (972*3).

if this means the pools code cannot scale its time to redesign it from scratch.

changing anything in the miners behaviour only extends the core issue for some time.
i made some own code hacks to calculate deadlines based on nonces with the dcct miner and plot code and came to the conclusion that one server should be able to handle at least 80 checks per second.
if this is not enough more servers are required. based on running costs for the pool this means every 500-1000 miner require a own verification node.

if the current poolserver code does not only act as a "webserver" on the hardware and as long as there are no restrictions on the submitted shares like the dev pools have each of these pools can get ddosed with really few bandwidth usage and a few lines of code (as long as they respond under regular load).

[evok3d]

Hi mates,

Can someone please tell me the current rate for BURST per day for 1TB?

Cheers.

Noto so much!
But you can check here for more details

http://burstcoin.eu

Bye bye

Nice, cheers.

[smaxer]

Is there anywhere to see a more in depth block break down then? http://burstcoin.eu/charts/average-block-generation-time

What do you exactly want to see? Maybe i can add it.

[pinballdude]

Really you should have a static block reward + fees, which never changes. The value of mining is determined by market worth. Coin mining would just cut off at whatever cap you want it to eventually reach. To that end, I don't think I've ever seen a coin gain 'value' by being fully mined. Usually at the end of the mine, there is a big 'boost' which is usually just a pump, and then it's all dumped and the coin fades to nothingness as they don't have anything going for them besides mining, which was driving all the interest.

I disagree about how a coin should work. I think it is vitally important that people know the total quantity of the coin, and that this quantity is final. The problem with all the fiat currencies that always end up worthless is indeed that they keep on printing more and more. If burst was one of those coins where the supply is unlimited, i would never have started mining. With the current math of burst you know that it is a store of value, that it is in a way just like holding gold.  I think a reason that many people shy from most current PoS coins as they are set up, is indeed that they suck as store of value, because you need to keep your wallet open just to keep the value, otherwise you lose out fast due to interest being paid by printing more coins, and debasing all existing coins.

I know that opinions differ reg. wether a currency should be worth less and less each year, or wether it should have a fixed amount in existance, and thus be worth more and more (as at least some coins will be lost over time). - we will probably figure this one out once and for all by looking at all the altcoins and cryptos in 10 years, and do the stats on what has survived and is being used. The current stats are way in favor of coins where the total supply is fixed.  This lesson seems to also have bene learned in the real world historically, where people tend to spend the bad currency and keep the good, which makes sure that the good currency keeps its price and buying power over time.